Company announcement no 11-19
The activities of North Media developed as expected in Q1 2019. Thus, total revenue amounted to DKK 264 million. This is slightly down on Q1 2018, primarily due to seasonal fluctuations and the absence of weekend newspapers in North Media Aviser in Q1 2019 compared to Q1 2018. EBIT before special items came to DKK 25 million.
”The development in Q1 2019 was as expected. The revenue of FK Distribution is to some extent affected by the fact that Easter falls in Q2 this year, whereas last year, it fell in Q1. The earnings also reflect the fact that, this year, we’re investing more in the development of FK Distribution’s digital platforms. North Media Online performed a little better than expected, which means that the online activities realised a profit”, says Kåre Wigh, Group Executive Officer & CFO of North Media.
The Group’s financial performance in 2019 is expected to be in line with 2018. FK Distribution expects lower earnings due to the reduced volume of printed matter and weekly newspapers, whereas North Media Online is expected to realise a earnings increase and a profit for the first time, and also North Media Aviser is expected to improve earnings.
On this basis, the expectations for the financial year 2019 are maintained. Previously, Group EBIT before special items was expected to range between DKK 95 million and DKK 125 million and is now specified to a range between DKK 105 million and DKK 125 million.
For further information
Kåre Wigh, Group Executive Officer & CFO, mobile +45 25 65 21 45
Mads Dahl Andersen, Chairman of the Board of Directors, mobile +45 20 42 09 85
This information was distributed by GlobeNewswire https://www.globenewswire.com/